India aims to double its ceramics turnover to Rs. 50,000 crore by 2020
The Dollar Business Bureau
India the third largest producer of ceramics aims to double its turnover to Rs.50,000 crore by 2020. This is driven by domestic consumption and exports to Europe, Middle-East and other destination countries.
Indian manufacturers are looking to compete with China in the global market which is a lead exporter with 40% market share, by expanding product portfolio and scouting for new geographies.
"The ceramics industry is looking at a growth of 200% by 2020 at Rs.50,000 crore, from Rs.25,000 crore at present," Vibrant Ceramics 2017 President Nilesh Jetpariya told the PTI.
He added that the ceramic industry employs more than 10 lakh skilled and unskilled persons.
In the last decade the Indian ceramic industry has evolved into an organized market. While the global ceramic tile production growth rate in 2016-17 was at 11%, the Indian ceramic industry achieved a growth rate of 15%. According to the President of Morbi Ceramics association, ‘Ceramic tiles that account for close to 60% of the total tiles demand in India is expected to grow at a CAGR of 8.7% for the period 2014-2019.’
Jetpariya was confident that the industry was looking for at least 50% growth in production and value this year. The industry is also expecting demand from semi-urban and rural areas to rise in coming year, apart from developed metro markets.
The Morbi Ceramics association is organising the second edition of the Vibrant Ceramics in Gandhinagar, Gujarat, during November 16-19 this year.
"Vibrant Ceramics would provide us a platform to showcase our product and technology at the international level. It would also help us expand our global reach," he said, adding that this is on the lines of Vibrant Gujarat.
India ships 20% of its total ceramic export to Saudi Arabia.